HSBC Holdings, the biggest lender in Hong Kong and Europe, has appointed veteran accountant Brendan Nelson as group chairman, according to its filing to the Hong Kong stock exchange on Wednesday.
Nelson, 75, has been serving as interim chairman since October 1, replacing Mark Tucker, who stepped down to become non-executive chairman of insurer AIA.
The appointment surprised the market after HSBC CEO Georges Elhedery said a day earlier at a global banking summit in London that Nelson was not seeking the role on a permanent basis, citing reluctance to commit to six to nine years at this stage of his career.
“Since assuming the role of interim group chair, Brendan has demonstrated his excellent leadership capabilities backed by his strong banking and governance credentials,” said Ann Godbehere, senior independent director of HSBC, who led the succession process.
The bank said the decision followed a robust process that considered both internal and external candidates.
